BMO Equal Weight Banks Index ETF (TSE:ZEB) Trading Down 0.3% – Time to Sell?

BMO Equal Weight Banks Index ETF (TSE:ZEB) dropped 0.3% during mid-day trading on Monday . The company traded as low as C$58.65 and last traded at C$58.71. Approximately 823,898 shares were traded during trading, a decline of 36% from the average daily volume of 1,284,360 shares. The stock had previously closed at C$58.91.

BMO Equal Weight Banks Index ETF Stock Down 0.3%

The stock has a 50 day moving average price of C$57.66 and a 200 day moving average price of C$53.03.

BMO Equal Weight Banks Index ETF Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, November 4th. Shareholders of record on Tuesday, November 4th were issued a $0.145 dividend. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, October 30th.

BMO Equal Weight Banks Index ETF Company Profile

The ETF seeks to replicate, to the extent possible, the performance of an equal weight diversified Canadian bank index, net of expenses. Currently, the ETF seeks to replicate the performance of the Solactive Equal Weight Canada Banks Index (the Index). The investment strategy of the ETF is to invest in and hold the constituent securities of the Index in the same proportion as they are reflected in the Index. The Manager may also use a sampling methodology in selecting investments for the ETF. As an alternative to or in conjunction with investing in and holding the constituent securities, the ETF may invest in or use certain Other Securities (as defined in the prospectus) to obtain exposure to the performance of the Index.